Etsy of Asia Craftsville Raises $1.5 Million
Mumbai-based Craftsville has raised $1.5 million in a Series A round to become the “Etsy of Asia.” The funding, which closed in April, came from Lightspeed Venture Partners and Nexus Venture Partners. Craftsville’s one-and-a-half-year-old marketplace currently hosts 50,000 products from over 1,000 Indian sellers. The company ships to over 20 countries worldwide. 25 percent of orders are sent to North America. Revenue is said to be growing 50 month-over-month. The new funding will be used to expand Craftville’s 60 person team and open additional markets of Thailand and India. [Source TechCrunch]
